IFMR - Senior Product Analyst - Insurance & Investment

Job Description: Senior Product Analyst – Insurance and Investment

IFMR Rural Finance (www.ruralfinance.ifmr.co.in) is a technology-process company which licenses out its KGFS Brand along with the required technology, processes and tools to build community focused small financial institutions that serve remote rural communities in defined geographies (typically two Districts of India). While the licensees (KGFSs) are not banks themselves, like regular banks they operate through branches located inside remote villages and have the ability to offer comprehensive savings and loan services to both, individual consumers as well as local businesses and local governments.

But, unlike regular banks, these institutions also offer a full range of financial services (savings, loans, investments, insurance, risk management, pensions) and use an internally developed wealth management approach that is an integral part of the manner in which they serve the local community – they even had to write their own textbook for this – Financial Engineering for Low Income Households (Financial Engineering for Low Income Households).

The organization thus far has 6 licensees which, between them, reach 12 Districts and serve about ~ 500,000 families in three States of India (Tamil Nadu, Uttarakhand, and Orissa). In order to support the rapid growth plan of the existing licensees as well on-boarding of new licensees in new geographies, we are looking to expand out our Wealth Management, Risk Management, Technology and Training teams.

Senior Product Analyst - Insurance and Investment

- The Senior Product Analyst for Insurance and Investment products is responsible for leading product & process design, analysis, and reporting efforts for insurance, savings, mutual fund and pension fund products.

- The position also involves anticipating, identifying, and mitigating risks whether related to acquisition of customers, losses in the product portfolios or selection of insurance and mutual fund partners.

- When focused on insurance product design, the position involves conducting analysis of most suitable product structures, selection of insurance providers, setting actuarial prices, evaluating customer demographics, making precise insurance recommendations and monitoring delivery process efficiency and loss ratios.

- When focused on investment products, the position involves financial life-cycle needs modelling, analysis, and reporting related to factors that affect customer’s portfolio and arriving at optimal product recommendations.

- The Senior Analyst for Insurance and Investment products is responsible for identifying trends and summarizing this information to a variety of internal clients.

- This position will interact with many other departments and external partners in the interest of achieving the overall company objectives.

Responsibilities:

The Sr. Analyst for Insurance and Investment products is responsible for:

- Delivering product and process structures suitable to rural clients

- Reporting on product and process efficiency metrics

- Conducting data and business analysis

- Utilizing best practices of data analysis to ensure data results are accurate, summarizing findings

- Developing recommendations and presenting analyses to management in a clear, concise, convincing, and actionable format

- Providing direction, training, and guidance to other team members and leading projects or special assignments as required.

Qualifications:

Skills:

- Effective written and verbal presentation skills with an ability to communicate well with management; pro-active and detail-oriented

- Ability to work with minimal supervision displaying leadership in a team environment; an ability to interact collaboratively with internal customers

- Capable of managing multiple and varied projects, including ability to coordinate and balance numerous tasks in a time-sensitive environment, under pressure, meeting deadlines

- Demonstrated quantitative skills and ability to apply complex financial and statistical principles.

Knowledge:

- Experience with respect to data analysis, advanced spread-sheet modelling, and actuarial techniques; knowledge of finance, statistics, economics, retail insurance, mutual funds, pension funds and savings products; demonstrated understanding and experience with technical systems, rational datasets, data warehouses, data mining, and data analysis techniques.

Experience:

- Bachelor's degree or equivalent experience; Masters Degree (preferred) in Finance, Economics, Mathematics, Statistics, or similar quantitative field.

- In addition, 3-5 years of experience in insurance, investment products analysis is required